Markets End Week On A Quiet Note

The
Euro debt crisis has taken a back seat today with no comments or figures coming
from the Eurozone. Maybe it’s because the various European politicians are
following the draw of their premier sporting event, the Champions League and
have taken the day off. Or maybe it is down to there being no news or progress
with sorting out the future of the single currency. The relationship between
Britain and France took a hit yesterday as French Central Bank chief Christian Noyer
lashed out at the UK’s economy saying “Britain should be downgraded before any
cut to France’s credit rating”. Prime Minster David Cameron responded by
pointing out the UK’s low bond yields and the credible plan in place to cut the
mammoth annual deficit.

This
aside, the markets are very calm as we finish the week. The US has some
inflation figures due out in the form of CPI data as well as some FED
members speaking, but these will bring little in the way of movement. The
Greenback has remained strong as invested move funds into the only currency
being viewed as a “safe haven” and this will likely continue into the new year
as no additional risk will be wanted over the holidays.

Report
by Tim Lewis